Companies are currently focusing on launching spirulina based natural colors and are investing more on research and development in order to expand the customer base and enhance regional presence
The analytical research report by Persistence Market research covers various aspects of the spirulina extract market that have an influence over its growth in the long run. The spirulina extract market has been experiencing steady growth graph since past years. During the 2017-2025 timeline, the global market for spirulina extract is expected to reflect a 1.8x increase in the revenue growth. In 2017 the global spirulina extract market was valued at US$ 150 Mn and by the end of the assessment year (2025), it is estimated to touch a value more than US$ 270 Mn growing at a value CAGR of 7.9% throughout the period of forecast.
New applications of spirulina are expected to create new business segments in the market. Spirulina is in use for a broad range of beverages that are still not available in the market. Spirulina juice and smoothies are among the only few beverage products that are launched in few regions. There lies a great opportunity since only a few companies are into this business due to introductory stage of this product market. Even spirulina is used in producing various natural colors.
Manufacturers are exploring the potential of spirulina in cosmetics. Application of Spirulina in cosmetic products are gaining traction in the recent years. Recently, manufacturers have started using micro-algae in the treatment of skin problems, which includes aging, tanning, and pigment disorders. Further, there are also potential uses in the areas of anti-aging, skin whitening, and pigmentation reducing products. Algae species have already been used in few of the cosmetic formulations, such as moisturizing and thickening agents.
Nutraceuticals to reflect lion’s share in the global spirulina extract market
The nutraceutical segment in the application category is expected to show increased consumption of spirulina extract. The segment reflected higher market share in 2017 and is likely to grow to a much higher valuation by the end of the assessment year. This segment is anticipated to touch an estimation of more than US$ 200 Mn by 2025 end from a value of around US$ 100 Mn in 2017, thus dominating the global market in the coming years. The nutraceutical application segment is projected to grow at a high CAGR of 8.0% during the period of assessment.
Dairy products and drinks to support the growth of food and beverage segment
Food and beverage application segment is expected to grow at the fastest pace in the coming years. This segment was valued at about US$ 23 Mn in 2017 and is expected to reach US$ 44 Mn by end of 2025 and is the second largest segment with respect to value. This segment is poised to register a CAGR of 8.5% throughout the forecast period. Food and beverage segment is further categorized into dairy products, confectionery, drinks and others. Dairy products sub segment in the food and beverage category is expected to largely contribute to the growth of the parent segment. Dairy products sub segment is poised to reach value around US$ 18 Mn by the end of 2025. The drinks segment is the fastest growing segment in the years to follow. This segment is anticipated to grow at a stellar value CAGR of 9.9% during the period of forecast, 2017-2025.
The comprehensive research report titled “Spirulina Extract Market: Global Industry Analysis (2012-2016) and Forecast (2017-2025)” by Persistence Market Research assists the reader in chalking key growth strategies based on valued insights with a view to attain a greater tempo even with the dynamically changing market scenario. The research report covers a detailed forecast analysis for a period of eight years, from 2017 till 2025 that gives a realistic idea about the future growth path of the spirulina extract market along with key assessment on possible future moves.
Global outlook in a nutshell
Global spirulina extract market research report focuses on several trends, opportunities, restraints and drivers across key regions in the globe. This delivers a global outlook of the market by covering all the key areas presenting a holistic view of the market. This assists the reader to get a detailed understanding about the regions with optimum potential in order to slate investment decisions and expansion strategies. The research study eliminates all the biasness giving a more realistic shape to the market acumen. This research report can address pain points of the reader by portraying key vitals of the spirulina extract market.
Strong research approach adopted for an exquisite market intelligence report
Credibility of the researched data and statistics lie in the uniqueness of the research methodology which ensures higher accuracy. In-depth assessment of the global spirulina extract market is underpinned by a systematic and intense research process that includes both secondary and primary research to obtain relevant market numbers. The data collected undergoes several funnels of validation and re-examination at each step, as the research progresses. This ensures delivering value with data having higher degree of accuracy. The expert opinions of the market observers and the domain experts is extrapolated and triangulation of these enables the analysts to arrive at a much accurate global market representation.
Complete market intelligence package
The research report on global spirulina extract market involves a separate section which focuses on the key players and the competition standing in the global market. The section involves the strategies applied by the key players, their product portfolios, their innovations, developments and product evolutions, their area wise spread and future expansion plans, the mergers and acquisitions taken place, the market shares and revenues of these tier players, financials, key personnel, etc. This intelligence dashboard completes with the inclusion of the analysis of the various aspects of the key competition in the market. Competitive assessment has been done in a systematic way to enable the reader to draw necessary conclusions.
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